APAC Multiplex Assays Market

APAC Multiplex Assays Market Size (2024 to 2029)

The size of the Asia Pacific Multiplex Assays Market was valued at USD 0.75 billion in 2024. It is expected to be worth USD 1.12 billion by 2029, hiking at 8.41% CAGR.

The increasing adoption of companion diagnostics, the rising incidence of chronic and infectious diseases, the growing awareness of disease diagnosis, increased focus on research and development proficiency in medical devices and the adoption of advanced healthcare technologies, growing development in nanotechnology and equipment, and rising expenditure for the development of healthcare infrastructure development and the need for effective analytical platforms in research and clinical diagnostics to reduce operational costs and time taken for diagnosis are all driving  Asia Pacific Multiplex Assays market growth.

Other significant factors that are expected to provide attractive growth prospects include increased health awareness among individuals, expanding acceptance of companion diagnostics to improve the safety and efficacy of medicines, and rising medical tourism. In addition, due to an increase in research activities in the pharmaceutical sector to treat various ailments, the Multiplex Assay Market is experiencing substantial expansion. These assays are employed in clinical trials because they save research costs and manual labor while increasing the efficiency of experiments and medicines. Additionally, they are automated and provide easier and faster disease analysis, fueling the growth of the APAC multiplex assay market.

However, the multiplex assays market in the APAC region is expected to be constrained by the high cost of devices used to perform multiplex assays, the lack of diagnostic kits, and the scarcity of competent labor. In addition, expensive capital expenditure and unfavorable reimbursement scenarios are further estimated to impede the expansion of the market. Furthermore, the market would face additional obstacles due to the government's strict product approval procedures.

This research report on the Asia Pacific multiplex assays market has been segmented and sub-segmented into the following categories

APAC Multiplex Assays Market Analysis By Product

• Consumable
• Kits & Reagents
• Panels

APAC Multiplex Assays Market Analysis By Type

• Nucleic Acid-Based
• Protein-Based

APAC Multiplex Assays Market Analysis By Technology

• PCR
• Multiplex Array

APAC Multiplex Assays Market Analysis By Application

• R&D
• Companion Diagnostics

APAC Multiplex Assays Market Analysis By End User

• Hospitals
• Clinical Laboratory

APAC Multiplex Assays Market Analysis By Country

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Asia Pacific is expected to grow at a healthy CAGR during the forecast period. The government's expanding R&D expenditure and the region's increasing infrastructural development drive growth in the APAC region. The market in the Asia Pacific is predicted to grow at a significant pace over the forecast period. Expansion of the market in the area is estimated to be contributed by India and Japan due to the rise in the elderly population leading to the increase in the prevalence of infectious disorders owing to the weakened immune system. Technological innovation is one of the primary factors of this market's growth. Nanoarrays, which are ultra-miniaturized versions of normal microarrays, was created due to nanotechnology's rapid growth. The improved knowledge of the multifactorial structure of diseases and pathological circumstances like cancer and Alzheimer's disease has demanded the creation of a cost-effective and time-saving technology for assessing many analyzers in a single sample. Biopharmaceuticals are developing personalized medicine, innovative therapeutics, biomarkers, and multiplex assays in China, in addition to generics. In addition, various trends in a multiplex assay are emerging across the country. Furthermore, the country requires patient samples to be used in clinical trials to receive permission. Government funding to encourage drug development activities and strategic collaborations among key market players are driving the multiplex assay market in Japan.

KEY MARKET PLAYERS

Companies that are currently dominating the APAC Multiplex Assays Market profiled in the report are Luminex Corporation, Thermo Fisher Scientific Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Abcam Plc, Becton, Dickinson and Company, Luminex Corporation, Meso Scale Diagnostics, Randox Laboratories Ltd and Seegene Inc.